Lone Pine Capital LLC Takes Position in Cipher Mining Inc. (NASDAQ:CIFR)

Lone Pine Capital LLC purchased a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,344,380 shares of the company's stock, valued at approximately $10,878,000. Cipher Mining makes up approximately 0.1% of Lone Pine Capital LLC's portfolio, making the stock its 28th biggest position. Lone Pine Capital LLC owned about 0.67% of Cipher Mining as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Voya Investment Management LLC boosted its position in shares of Cipher Mining by 3.6% during the fourth quarter. Voya Investment Management LLC now owns 59,135 shares of the company's stock valued at $274,000 after buying an additional 2,036 shares during the last quarter. Xponance Inc. boosted its position in Cipher Mining by 17.8% in the fourth quarter. Xponance Inc. now owns 14,151 shares of the company's stock worth $66,000 after purchasing an additional 2,140 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Cipher Mining by 17.4% in the fourth quarter. Russell Investments Group Ltd. now owns 14,524 shares of the company's stock worth $67,000 after purchasing an additional 2,149 shares during the last quarter. Tobam boosted its position in Cipher Mining by 22.7% in the fourth quarter. Tobam now owns 18,023 shares of the company's stock worth $84,000 after purchasing an additional 3,336 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Cipher Mining by 14.4% during the 4th quarter. Victory Capital Management Inc. now owns 29,747 shares of the company's stock valued at $138,000 after buying an additional 3,751 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CIFR. HC Wainwright reissued a "buy" rating and set a $8.00 target price on shares of Cipher Mining in a research note on Wednesday, February 26th. Cantor Fitzgerald decreased their target price on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Rosenblatt Securities began coverage on Cipher Mining in a research note on Friday, March 7th. They set a "buy" rating and a $6.50 target price on the stock. Keefe, Bruyette & Woods began coverage on Cipher Mining in a research note on Wednesday, January 8th. They set an "outperform" rating on the stock. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $8.00 target price on shares of Cipher Mining in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Cipher Mining currently has an average rating of "Buy" and a consensus price target of $8.13.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $3.08 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $7.99. The firm has a market capitalization of $1.14 billion, a PE ratio of -23.69 and a beta of 2.65. The stock's fifty day moving average is $3.13 and its 200 day moving average is $4.83.

Cipher Mining Company Profile

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.

Want to see what other hedge funds are holding CIFR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cipher Mining Inc. (NASDAQ:CIFR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.